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QBE Insurance’s share price has fallen 11% today after management forecast an 18% fall in net profit to US$390m for the six months to 30 June. The company’s combined ratio is now expected to be in the 96-97% range, compared to previous expectations of around 93%, while profit margins are likely to be 7-8%, compared to earlier guidance of around 10%.

The main culprit was a US$170m increase in claim reserves for QBE’s Latin America business, the majority of which...

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The last time you published a view on QBE, you noted that the company was making progress. Do you have a view on whether that progress has continued and if prospects are improving? If so, at what price might you start to become interested again? P...

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